This webinar will provide you with key items from Trump’s One Big Beautiful Bill and how it impacts you as an Employer. We will discuss how to begin preparation for tax reporting to comply with the provisions of the Bill.
While many items are tax deductions that are above the line deductions on employee’s tax returns, Employers will be impacted to provide information to employees for these deductions. This will require payroll systems to be updated to provide this data on W-2’s. Overtime deductions are for premium pay only so systems may need updated to calculate the correct amount. State Overtime laws do not apply as it only applies to Overtime premium pay under the FLSA.
Other updates such as Dependent Care FLEX increases and opportunities for larger credits to Employers who provide childcare for Employees. The items included in this bill could increase employee retention & recruitment for your Workforce especially for Businesses in the Hospitality Industry who pay Tips. Plan to attend to learn more about the provisions of this bill.
Webinar Objectives
- Identify and apply the new federal payroll tax deductions for overtime and tip income under OBBB.
- Update payroll systems and processes to ensure compliance with new federal and state reporting requirements.
- Communicate effectively with employees regarding changes to payroll deductions, eligibility, and tax impacts.
- Navigate state-specific payroll compliance issues, including differences in state adoption of OBBB provisions.
- Revise internal payroll and overtime policies to reflect the new regulatory environment.
- Implement best practices for documenting, reporting, and auditing overtime and tip compensation.
- Prepare for downstream effects on labor costs, employee classification, and workforce management.
Webinar Highlights
- Federal Payroll Tax Changes
- Overtime and Tip Income Deduction
- W-2 Reporting
- Payroll System updates for W-2 reporting
- New System requirements for Tip and Overtime reporting
- 2025 requirements
- 1099-MISC and 1099-NEC Changes
- Policy and Workforce Implications
- Other Impacts
- Boost employee retention & recruitment in Hospitality Industry
- Stricter Work Requirements for Medicaid Eligibility
- State Payroll Compliance Considerations
- Dependent Care Flex Spending Increase
- Enhanced Dependent Care Assistance Program
- Employee Portions of the Bill
Who Should Attend
Payroll Professionals, Owners, Accountants, CFO, Tax Professionals, Bookkeepers
